Intelligrated®, a leading North American-based provider of automated material handling solutions, services and products, announced today that its acquisition by a holding company owned by the Permira funds has been successfully completed, in a transaction at a valuation in excess of $500 million.
Intelligrated will continue to be led by its founders, Chris Cole and Jim McCarthy, who have maintained a significant stake in the company as part of the transaction.
Intelligrated designs, manufactures and installs complete material handling automation solutions for the warehousing, distribution, consumer product manufacturing, postal and parcel markets. Solutions offered by Intelligrated include conveyor systems, sortation systems, palletizers and robotics, order fulfillment systems, warehouse control software and advanced machine controls. Intelligrated will remain headquartered in Mason, Ohio, a suburb of Cincinnati, and has operations throughout the United States and in Canada, Mexico and Brazil.
The Permira funds’ investment will support the company’s growth opportunities, including further penetration of its customer base in North America, emerging markets expansion in partnership with its global customers, increased product offerings and global capabilities through investment and selective M&A, and an enhanced focus on aftermarket services.